iShares from BlackRock files for Bitcoin ETF.
On Thursday afternoon, the iShares division of BlackRock, a large fund management company, submitted documents to the U.S. Securities and Exchange Commission to establish a spot bitcoin (BTC) exchange-traded fund (ETF). The fund will be called the iShares Bitcoin Trust, and its assets will primarily consist of bitcoin held by a trustee on behalf of the Trust, according to the filing. Blockchain, earlier on Thursday, reported on BlackRock’s plan to file for a bitcoin ETF soon. While approving several futures-based bitcoin ETFs, the SEC has notably rejected other fund management companies’ efforts to establish a spot bitcoin ETF, including those from Grayscale, VanEck, and WisdomTree.